Trustee Executors Ltd v Peter James Murray

[2006] NZSC 23

IN THE SUPREME COURT OF NEW ZEALAND

SC 15/2006

[2006] NZSC 23

BETWEENTRUSTEES EXECUTORS LIMITED

Appellant

ANDPETER JAMES MURRAY & ORS

First Respondents

ANDMOREL & CO LIMITED

Second Respondent

ANDJENNIFER ANN MOREL

Third Respondent

SC 17/2006

BETWEENPETER JAMES MURRAY & ORS

Appellants

ANDMOREL & CO LIMITED

First Respondent

ANDJENNIFER ANN MOREL

Second Respondent

Court:Blanchard, Tipping and McGrath JJ

Counsel:L Taylor for Trustees Executors Limited

B O'Callahan and A E FitzHerbert for Peter James Murray & Ors
P R Jagose and P R McRae for Morel & Co Ltd and Jennifer Ann Morel

Judgment:4 April 2006 

JUDGMENT OF THE COURT

[1]       Leave to appeal is granted on both applications.

[2]       The approved grounds are:

On the Trustees Executors Limited application

(1)Whether, in the circumstances of this case, there was sufficient payment in cash for the purposes of s 37(2) of the Securities Act 1978.

(2)Whether, in the circumstances of this case, the plaintiffs are entitled to maintain their pleading of s 28 of the Limitation Act 1950. 

On the Murray & Ors application

(3)Whether the plaintiffs’ 1^st and 10^th causes of action should have been struck out on the basis that there was no possibility that a general doctrine of reasonable discoverability could save them from being statute-barred.

[3]       We decline to grant leave on the question of the statutory supervisor’s duties outside the Act and on the causation point.  We consider that determination of these issues should not take place on the necessarily abstract basis of a strike-out application.

Solicitors:
Minter Ellison Rudd Watts, Wellington for Trustees Executors Ltd
Carter & Partners, Auckland for Peter James Murray & Ors
Chapman Tripp, Wellington for Morel & Co Ltd and Jennifer Ann Morel